StockNews.com Lowers Royalty Pharma (NASDAQ:RPRX) to Hold

StockNews.com cut shares of Royalty Pharma (NASDAQ:RPRX) from a buy rating to a hold rating in a research note released on Monday morning.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. UBS Group lowered Royalty Pharma from a buy rating to a neutral rating and set a $28.00 target price on the stock. in a research note on Monday, June 3rd. Finally, The Goldman Sachs Group increased their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a buy rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Royalty Pharma currently has a consensus rating of Moderate Buy and a consensus price target of $42.00.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $27.78 on Monday. The firm has a market capitalization of $16.49 billion, a PE ratio of 20.73, a PEG ratio of 4.23 and a beta of 0.46. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. Royalty Pharma has a 1-year low of $25.20 and a 1-year high of $31.66. The business’s 50 day moving average is $27.73 and its 200-day moving average is $28.11.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The firm had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. During the same quarter in the previous year, the company posted $0.85 EPS. Sell-side analysts predict that Royalty Pharma will post 4.04 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 16th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, August 16th. Royalty Pharma’s payout ratio is presently 62.69%.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPRX. Truist Financial Corp acquired a new stake in Royalty Pharma during the fourth quarter worth approximately $443,000. Van ECK Associates Corp lifted its holdings in Royalty Pharma by 83.4% during the 4th quarter. Van ECK Associates Corp now owns 6,476 shares of the biopharmaceutical company’s stock worth $182,000 after purchasing an additional 2,944 shares during the last quarter. M&T Bank Corp boosted its stake in Royalty Pharma by 13.3% in the 4th quarter. M&T Bank Corp now owns 18,530 shares of the biopharmaceutical company’s stock valued at $520,000 after purchasing an additional 2,175 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Royalty Pharma by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,770,988 shares of the biopharmaceutical company’s stock valued at $49,747,000 after buying an additional 122,084 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Royalty Pharma by 0.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,763 shares of the biopharmaceutical company’s stock worth $5,181,000 after buying an additional 1,223 shares during the period. 54.35% of the stock is owned by institutional investors.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.